VIEWS FOR 27TH JANUARY 2010 - TECHNICAL VIEWS MCX & COMEX

SPOT GOLD:-The trend violation was shown yesterday and now the zoomed chart is shown. Resistance is at 1104$. Traders short can keep a stop loss of 1104$. Buy on rise above 1005$ with low of the day stop loss. Cover short positions at current price to 1074$ as the opportunity arises. Sell on fall below 1074$ with high of the day stop loss or 1005$ whichever is higher   NYMEX CRUDE:-Support is at 74$-73.8$. Sell on fall below 73.8 with high of the day stop loss. Traders who are already short can keep a stop loss 75.50$ to hold short. Traders can buy on rise above 75.5 with low of the day stop loss or 73.8 whichever is lower   TIN LME:-A negative divergence has been witnessed on 14 day RSI, Support will be 17525$. On fall below 172225 expect a slide further. Traders can take profit on rise from  current level of 17630-18820$.   LEAD LME :-A negative divergence on 14 week RSI is in place. Trend line breakdown has been witnessed. Expect lower levels of 2106$-1982$ to be tested. Sell on rise to 2299$-2375$ with a stop loss of 2500$.   NICKLE LME :-A negative divergence on RSI has been witnessed. Overall use rise to 18650-18875 to exit long positions. Sell on fall below 17975 with high of the day stop loss. Support is at 17225$. On fall and close below 17225$ can bring about a significant slide.   SPOT GOLD ALERT:- The trend continues to receive hammering is seen consistently held below 1104. Once above 1104, which is more favoured today,expect rally till atleast 1114, Intraday spikes to 1131 region also cannot be ruled out, but expect liquidation pressure from as early as 1114 or 1126 to turn back lower again to the bear camp, which is now pointing towards 980, once below 1074   Watch out for: • China steps up measures to curb economic growth • Australia reports faster than expected inflation. AUD strengthens • German CPI • US FOMC Rate decision • US Weekly Crude Inventory Data   MCX GOLD TRADING STRATERGY:-Support will be at 16350. Traders holding short positions can keep a stop loss at 16572. Sell further on fall and close below 16350 with high of the day stop loss   MCX SILVER TRADING STRATERGY:-Traders by chance still holding short positions can keep a stop loss of 27325. Cover short position on dip to 26612-26676 as the opportunity arises. Sell on fall below 26600 with high of the day stop loss or 26947 whichever is higher         MCX Gold Feb: Resistance is at 16547/16562 now. Break and close above here could result in a retracement towards 16742/16787 levels now. However, fall below 16293 to cause doubts on this view. Such a fall could drag prices sharply lower towards 16082 or even lower towards 15662.S1: 16383 S2: 16303 R1: 16545 R2: 16625.     MCX Silver March: Resistance is at 27530/27562. Rise above this level can retrace towards 28263 levels. However, failure to cross the resistance could   the resistance could drag prices lower towards 25570 or 25252 now. S1: 26685 S2: 26555 R1: 26945 R2: 27075.     MCX Copper Feb: Crucial support at 339.80. While below here still expect break above 351 and test of 356.40/357.40.  S1:341.20 S2:337.20 R1:349.20 R2:353.20.     MCX Crude Oil Feb: Failure to cross-resistance at 3491-3508 to pressure prices lower towards 3391-3403 levels. However, direct rise above 3508. Above 3508 to take prices higher towards 3577-3588. S1: 3437 S2: 3397 R1: 3517 R2: 3557.     MCX Zinc Jan: While above 104.75 look for a bounce towards 109 levels.  S1: 105.40 S2: 103.40 R1: 109.40 R2: 111.20.     MCX Lead Jan: While below 100.50 look for a 105.25 levels. Fall below 100.25 to dent our bullish exp. S1: 100.70 S2: 99.20 R1: 104.70 R2: 106.70     MCX Zinc Jan: While above 104.75 look for a bounce towards 109 levels.  S1: 105.40 S2: 103.40 R1: 109.40 R2: 111.20.     MCX Nickel Jan: Ideally, 825-30 to hold for a rally towards 878-80. Direct fall below 825 to drag prices lower.  S1: 841 S2: 836 R1: 856 R2: 862     MCX NaturalGas Feb: Dip to 260/258 to find support for move higher toward 276/282 level. Fall below 256 to negate the bullish view. S1:262 S2:256 R1:273 R2:2